Causes for concern

"Budimex are the most prominent representatives from the construction sector on the Warsaw Stock Exchange. How this company is doing impinges on the whole sector," says analyst Arkadiusz Chojnacki of Bank Handlowy The market is looking forward to Budimex's results, which are to be published on February 27th, (just before Eurobuild went to press). "These results will probably be weak and surprising," adds the analyst. The market consensus on the forecast for Budimex's net loss comes to around PLN 3.9 mln in the fourth quarter and PLN 28.26 mln for the whole of 2002. The loss recorded for 2001 amounted to PLN 28.1 mln. According to Chojnacki, the recent decline of Budimex's shares could have resulted from the delay in construction of the new Terminal Two at Okęcie airport (whose total contract value is about USD 200 mln). Another cause for concern in the construction sector is the petition for Mostostal Zabrze's bankruptcy. The company's shares have rec